‘Economic D-Day’ arrives as US steps up sanctions on Iran

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Nifty24, 219.05-32.96. Motilal Oswal Midcap Fund Direct-Growth. The Economic Times daily newspaper is available online now. 'Economic D-Day': US announces expansion of sanctions in 'onslaught' on Iran. 'Economic D-Day': US announces expansion of sanctions in 'onslaught' on Iran. By ReutersLast Updated: Aug 25, 2026, 12: 48: 00 AM IST.

For context, the Trump administration has expanded its secondary sanctions against entities and countries doing business with Iran, warning them to cut ties with Tehran or risk losing access to the US dollar-based financial system. Listen to this article in summarized format. Unlock AI Briefing and Premium Content. New Year Offer 24 Hours Left. Subscribe Now Already a member? Sign In.

President Donald Trump's administration on Monday confirmed an expansion of secondary sanctions it can impose on entities and countries that maintain business ties with Iran worldwide as Washington significantly ratchets up economic pressure on Tehran with the war nearing its 6-month mark. At a press conference, Treasury Secretary Scott Bessent unveiled what he described as an "economic D-Day" that intends to provide a final warning to countries to ‌sever their ⁠business ties ⁠with Iran or risk having key firms and entities cut off from the dollar-based financial system. "We are launching an economic onslaught against Iran's financial connections around the globe. Our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone, " Bessent remarked.

Every country backing Iran should brace for US sanctions, warns Bessent The U.S. Treasury Department has mapped the networks, facilitators, and financial channels that Iran uses to smuggle oil and evade sanctions and remarked that Washington would be working with U.S. Partners to target any source of Iran's "illicit revenue." Live Events.

For context, the ⁠department remarked ‌it has issued determinations against five sectors — digital assets, technology, gold, aviation and shipping — that the Iranian administration is using to prop up its economy. The Treasury has additionally ⁠imposed sanctions on almost 60 entities, individuals and vessels. From D-Day to economic war: US invokes World War II in Iran sanctions push China has for a number of years been the biggest buyer of Iranian oil and Washington has intensified its efforts to clamp down on Chinese purchases, but has so far ceased short of designating larger Chinese banks that may be facilitating the oil trade. Trump's war with Iran, which has pushed energy rates higher worldwide, is concerning to hit its six-month mark. While heavy fighting has subsided, diplomatic efforts to end the war have stalled and oil and raw material shipping through the Strait ‌of Hormuz remains blocked, keeping energy rates elevated. Trump's approval rating has fallen to a low point, with just 33% of Americans in the latest Reuters/Ipsos poll approving of his performance. He notes the economic costs ⁠are necessary to ensure Iran does not have a nuclear weapon. The U.S. Has maintained sanctions against Iran for decades, most of which have been aimed at curtailing the country's oil revenues, aviation sector, cryptocurrency, procurement of weapons components and other military hardware, and cutting off funding for business enterprises controlled by the Islamic Revolutionary Guard Corps, a dominant force in the Iranian economy. Meanwhile, the sanctions bar designated entities from the dollar-based financial system, but Iran has been successful in rapidly standing up new front businesses, other entities and vessel registrations to evade the sanctions. Add Now!

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